Global dairy prices rose unexpectedly at the March 21st GlobalDairyTrade auction, even while volumes increased, raising prospects that last year's recovery in milk prices is back on track. But average prices rose for the first time in six weeks, adding 1.7 percent to $3,101 per ton in the Global Dairy Trade auction held by GDT Events overnight.However, it comes after a dramatic drop two weeks ago, where skim milk power and whole milk powder prices took a heavy blow.

Prices at the March 7th Global Dairy Trade (GDT) auction, the fifth sale of 2017, fell 6.3% to $3,512 per ton following a 3.2% decline previously. There was a 12.4% decline in Whole Milk Powder prices to $2,782 per ton while Skim milk powder prices fell 15.5%. The decline in GDT prices was slightly lower than expected by futures markets which had priced in an 8% decline.